HomeMy WebLinkAboutMINUTES - 08281990 - 1.5 (2) 1
.50
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: AUGUST 28, 1990
SUBJECT: ACQUISITION OF CASEY MEMORIAL LIBRARY FACILITIES IN WALNUT CREEK
Project No.: 7713-3505,3515 Task: ACID Account: 3540
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) &BACKGROUND AND JUSTIFICATION
I. Recommended Action: It is recommended that the Board exercise its Option to Purchase
property located at Oak Grove Road (Casey Memorial Library); ACCEPT Quitclaim Deed from
Contra Costa County Employees Retirement Association; AUTHORIZE Auditor-Controller
Department, Accounts Payable Division, to make a Journal Entry in the amount of $93,389 to
effect payment agreed upon; and DIRECT the Public Works Department, Real Property. Division,
to have said Quitclaim Deed recorded in the Office of the County Recorder.
II. Financial Impact: The original agreement reflected actual construction expenses and
calculations of the total expenses to be amortized in the lease payments. As per the Agreement,
the County has the option to purchase said property for $93,389. Funds to exercise the
purchase option have been included in the approved 1990-1991 Plant Acquisition Budget.
Ill. Reasons for Recommendations and Background: Effective March 27, 1974, the County of
Contra Costa entered into a Lease-Option Agreement with the Board of Retirement of Contra
Costa County Employees Retirement Association for the construction and lease/purchase of the
Casey Memorial Library facility on Oak Grove Road, Martinez. Lease payments over the last 16
years have paid down the obligation to a point where a single payment of$93,389 will allow the
County to obtain clear title to the Casey Memorial Library.
IV. Consequences of Negative Action: Rental payments will continue and the amount owed on
the facility will increase by 8 3/4% per year.
Continued on Attachment: SIGNATURE:
_RECOMMENDATION OF COUNTY ADMINISTRATOR
_RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON AUG 2 8 1990 APPROVED AS RECOMMENDED tl OTHER
VOTE OF SUPERVISORS
L/ UNANIMOUS (ABSENT -M ,, 3:V--
AYES:
VAYES: NOES:
ABSENT: ABSTAIN:
1 hereby certify that this is a crus and correct copy of
GK:rs I an action taken and entered on the minutes of the
Board of Supervi^rs on the date shown.
ATTESTED:
c:B0a28c.t8 AUG8 1990
PHIL BATCHELOR,Clerk of the Board
Orig. Div: Public Works (R/P)
Of Supervisors end Countv Administrator
cc: County Administrator
Auditor-Controller (via R/P) ar �� ► ,1)epuly
General Services
Recorder (via R/P)